Published on WEA Pedagogy Blog, by Asad Zaman, Dec 7, 2016.
Prior to the Global Financial Crisis (GFC 2007), many senior economists and policy makers expressed confidence that they had finally solved the problem of business cycles, booms and busts, that plagues capitalism. Because of this over-confidence, early warnings of a looming crisis by Nouriel Roubini, Ann Pettifor, Peter Schiff, Steven Keen, Dean Baker, and Raghuram Rajan, were ridiculed and dismissed … // Continuer la lecture de « A Crisis-Prone and Fragile Financial System »